What is this indicator?
Combines the color of the EMA and the MACD histogram to color candles based on trend direction and momentum. Neutral candles (neither green nor red) signal a temporary weakening of the trend.
How to read the chart
The indicator moving toward the ends of its range usually signals overbought or oversold conditions; a divergence between price and the indicator is also considered an important signal.
Practical tip
Instead of trading purely off reaching an overbought or oversold zone, first check the overall trend on a higher timeframe and only take signals that align with it.